We've recently had some weather temperature swings. we had a lot of condensation on everything. I have bead board on my 1922 Arts and Crafts duplex on both the soffits and the front porch ceiling.
can anyone assist in how to fix this?
http://picasaweb.google.com/lh/photo/RZBkJ_EkQw0zPMqAf-bj6g?feat=directlink

it used to all look like the upper most part of this picture. the moisture caused it to look like it does now.

Do you know what type of finish was on it? Odd that the moisture took off the color. I'm wondering if they used a tinted shellac - which would have been an odd choice for exterior, but would explain why it dissolved in moisture and took the color with it.

How old is the finish?

If the finish is very old I would suggest that something else has changed (maybe a roof leak, new insulation, or sealed up ventilation) as the condensation would most likely have occurred before (this weather pattern while unusual is not unheard of). You need to fix whatever else has changed before fixing the finish.

If the finish is new, it is probably an interior finish that cannot stand up to moisture. You may be able to coat over it, thus sealing it. I would not count on that, you will most likely need to remove all of the finish and redo it with exterior grade finish.